An iPhone would have cost $3.5 million to build back in 1991

Here’s how the site reached that astronomical sum:

• GB flash memory: $45,000 in 1991 vs. $0.55 today.
• Thus, 32GB flash memory = $1.44 million.
• Apple’s processor, which produces about 20,500 millions of instructions per second: $620,000 in 1991.
• The cost of mobile communication in 1991: $100 per kilobit per second.
• The iPhone delivers speeds in the 15Mbps range today: 15,000Kbps (15Mbps) x $100 = $1.5 million.

Via